News

BancorpSouth, Inc. announced today the acquisition of Kyzar and Company, P.A., of Hattiesburg, and incorporation of the employee benefits firm into its Stewart Sneed Hewes division of BancorpSouth Insurance Services, Inc.

BancorpSouth Chairman and CEO Aubrey Patterson said, "We have actively expanded our insurance services through the company's six-state market area and will consider other similar acquisitions of market-leading agencies. Kyzar and Company will add an important dimension to our employee benefits program in Steward Sneed Hewes' Hattiesburg office."

Stewart Sneed Hewes Hattiesburg President Ross Bell said, "Burrell Kyzar, Michelle Fuller and staff are exceptionally well-qualified employee benefits specialists, and we welcome the opportunity to have them join the Stewart Sneed Hewes family." BancorpSouth's Hattiesburg President Ted Webb added, "We are pleased to have these professionals join the Stewart Sneed Hewes/BancorpSouth team in Hattiesburg. They are highly respected members of our professional community."

Kyzar and Company was founded in 1974 and has specialized in employee benefits including group medical and life insurance, short and long term disability and retirement plans including 401k/profit sharing and defined benefit plans. Burrell Kyzar said, "We look forward to being a part of Stewart Sneed Hewes and BancorpSouth. We are pleased to have the opportunity to partner with two of the leading names in financial services, employee benefits and insurance."

In addition to Stewart Sneed Hewes, BancorpSouth through subsequent mergers has partnered with Wright and Percy Insurance Agency in Baton Rouge and Ramsey, Krug, Farrell in Little Rock. BancorpSouth 2004 insurance revenue ranked in the top 25 nationally among banking operations. Terms of the Kyzar merger were not disclosed.

Headquartered in Tupelo, Miss., BancorpSouth is a $10.8 billion asset banking company that operates approximately 247 commercial banking, insurance, trust and broker/dealer locations in Alabama, Arkansas, Louisiana, Mississippi, Tennessee and Texas with a staff of approximately 3,800 full-time employees. BancorpSouth and its subsidiaries provide, in addition to traditional banking services, mortgage origination and servicing, leasing, credit cards, trust and fiduciary services, brokerage and investment services and insurance services.

SOURCE: BancorpSouth, Inc.